Reliance Brands and Superdry forge joint venture for Indian expansion

Reliance Brands and Superdry forge joint venture for Indian expansion

Reliance Brands Limited (RBL) has inked a groundbreaking joint venture agreement with UK-based Superdry PLC, marking a pivotal moment in their long-standing partnership. The deal, executed through RBL's subsidiary in the UK, will see the creation of a joint venture entity, which will acquire Superdry's intellectual property assets for India, Sri Lanka, and Bangladesh. RBUK will hold a majority stake of 76%, with Superdry retaining 24%. The transaction, valued at £40.0 million, will result in Superdry PLC receiving approximately £28.3 million in net cash proceeds.

This strategic move follows RBL's successful introduction of Superdry to the Indian market through a franchise agreement in 2012. With an eye on India's burgeoning affluence and evolving consumer habits, the joint venture aims to facilitate Superdry's expansion across the region. Superdry, renowned for its fusion of British, American, and Japanese styles, has garnered a devoted following among fashionable Indian youth, boasting 200 points of sale in 50 cities and a robust e-commerce presence spanning over 2,300 cities.

Superdry's diverse offerings, including outerwear, T-shirts, and accessories, have resonated with Indian consumers. The brand's adaptability to local preferences, such as introducing swimwear and fragrances, has contributed to its success. Additionally, its foray into sports and activewear under 'Superdry Sport' has expanded its portfolio. Bollywood actor Kartik Aryan's association with the brand as a brand ambassador since 2022 has further propelled its popularity.

Both companies are optimistic about the partnership's potential. Reliance Brands anticipates a fruitful era of collaboration, while Superdry sees India as a promising market for future growth. This agreement heralds a new phase in their alliance, allowing for enhanced collaboration, innovative product offerings, cost efficiency, and sustained brand development.

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